Is Barney Frank the best hope that the online gambling industry has of getting the UIGEA repealed, or at least revised?

Barney Frank is no slouch in Washington. He is chairman of the House Financial Services Committee, and when he introduces this bill, he will have the ears of many important people. Combine that with the fact that the Chairman of the Justice Committee doesn't support the UIGEA as well, and you have at least the possibility that the bill will be repealed. This would be welcome news to an embattled industry.

Barney Frank has called the bill the "stupidest law ever passed" and is actively trying to get the bill repealed. He has said that his bill to end the ban on online gambling will be introduced by the end of April, and that he will need some time to get his colleagues to change their minds on banning online gambling.

Also, we may have the European Union on our side in terms of overturning UIGEA. EU internal market chief Charlie McCreevy has hinted that he may challenge the online gambling ban at the World Trade Organization.

We have a number of the right people on our side, and I can only hope that this movement gains strength over the upcoming months, so that we can get this sneakily passed bill repealed, so that Americans can decide for themselves what they want to do with their hard-earned money. The US should follow the UK, and legalize and regulate the online gaming industry.